💨 Abstract

Tensions escalate as Iran votes to potentially close the Strait of Hormuz, a critical oil choke point, in response to U.S. involvement in regional conflicts. The move could disrupt global oil supply and drive up prices significantly. Islamic Revolutionary Guards hinted that shutting the strait is under consideration, raising concerns about broader economic disruption. The Strait of Hormuz handles about 20% of the world's oil, and its closure could lead to substantial market turmoil.

Courtesy: Gergana Krasteva